GILLETTE, Wyo. — A recent uptick in wholesale and retail trade pushed sales tax revenues millions over budget for the City of Gillette, which will now finish out the current fiscal year with two months-worth of excess cash.
City sales tax receipts for April 2022 totaled $4.1 million, around $1.6 million over budget and an increase of approximately $900,000 over the previous month. It’s the second-highest sales tax receipt of the fiscal year, according to City Finance Director Michelle Henderson, who sent the information out in a May 13 email.
The city is now $2 million over its annual general fund budget and $1.7 million over its annual Optional One Percent budget, per Henderson, who said the last two months-worth of sales tax receipts for the current fiscal year will be excess cash.
“All of this is great news for our General Fund and our (Optional One Percent) Fund, increasing available cash balance in preparation for the days when the receipts aren’t quite as stellar,” Henderson wrote in her email. “The next two months will be interesting!”
The increases in April’s sales tax receipts stemmed largely from increases in Wholesale Trade and Retail Trade, per Henderson’s email.
Wholesale Trade increased by 73% over the previous month with the largest increases seen in machinery and supply wholesalers as well as petroleum merchant wholesalers at 174% and 66%, respectively, according to the email.
Retail Trade increased by 32% overall, with miscellaneous store retailers realizing a 94% increase, per Henderson, though electronic shopping and mail order houses both experienced a decrease.
Modest increases were reported in mining support activities, petroleum and coal products manufacturing, as well as machinery and equipment rental and leasing, according to the email.